Beware! Future500FX.com is an offshore broker! Your investment may be at risk.
RECOMMENDED FOREX BROKERS
Don’t put all your eggs in one basket. Open trading accounts with at least two brokers.
It’s really is amazing how much effort a broker can put into creating a misleading website, instead of just trying to create a legitimate experience for everybody’s sake. But it’s not that easy and an illegitimate experience is very much easier to create and run. Future500FX.com is a dangerous broker because it really has the potential of making you invest. This is mainly due to the fact that the broker has a very appealing website. And our concern is with more novice users, who will undoubtedly fall victim to this broker if they allow it to manipulate them. So that is why it is very important to read this review and see why this broker is not worth your money.
The account creation process is very easy but what follows completely blocked our access to any of the features of the user area. Registered users must also provide account approvable documents or identification documents. Giving these away to an ultimately unregulated broker will leave to financial loss. But also the broker can use this against you and can manipulate you.
Anyway, without accessing the user area we have no choice but to take all of the payment and trading information from the website. Please consider that not everything we are about to reveal is true. Unregulated brokers lie on their website.
According to the website, users can trade with forex currency pairs, commodities, futures, indices, and shares. There are no spreads and no leverages revealed anywhere. There is absolutely no reason to provide this information unless you do not offer good training grounds.
The website of this company is available exclusively in English.
FUTURE500FX.COM REGULATION AND SAFETY OF FUNDS
Speaking of the company, this is what we learned of the broker and its legitimacy. Future500FX.com is utterly anonymous. There there is absolutely no information on anything.
There is no contact address, there is no registration address, and absolutely no regulatory information to speak of.
This company is incredibly anonymous making it very dangerous. In our experience, we have gathered many brokers that were anonymous and we can say with confidence that some of the most dangerous brokers out there are precisely the anonymous ones. They can easily disappear or reappear and you cannot trace your money to them in any way. What this means is that they can disappear with your money and you cannot find them.
So, Future500FX.com is anonymous which is makes this broker incredibly dangerous. It is also an unregulated firm and a risk to all investments. All of your personal details are at a risk as well. You will be scammed here.
Investing in unregulated brokers is basically throwing your money out of the window. They will very rarely return your money, and even if that happens it would cost the user an incredible amount of headache and time.
That is why we encourage users to only trade with regulated brokers. Please, once you enter a broker that you think is worth investing in always check for a license before doing anything else.
We recommend UK, EU, US, or Aussie brokerage firms. All such regulated brokers are very trustworthy and offer safe and secure trading grounds.
Furthermore, agencies like the FCA and CySEC offer user compensation funds that are applied only when the broker at hand is not able to pay back to user due to insolvency. CySEC guarantees up to €20 000 per person, while the FCA guarantees up to £85 000.
FUTURE500FX.COM TRADING SOFTWARE
As we mentioned we could not access the user area which means that we have to take all of the trading software information from the website. Not that there is a lot to talk about.
The issue is not that there is no web trader but that we had no access to set web trader. We believe that there is a platform somewhere to be found but without access to it, we cannot talk about it.
FUTURE500FX.COM DEPOSIT/WITHDRAW METHODS AND FEES
All of the payment information will also have to be taken from the website accordingly users can pay ” using a variety of payment methods “. None of them have been revealed. No minimum deposit has been revealed.
Withdrawals are said to be processed in a day which is hard to believe. This is all the payment information that we could gather from the website. It seems that Future500FX.com not only hides its presence but it also wishes not to reveal anything about itself. How can you ever trust such a broker?
You can’t. Do not invest here because all of your money will be lost and your personal information will be used against you.
How does the scam work?
It’s almost ironic that’s one of the most popular ways to get scammed by a forex investment fraud is incredibly simple to grasp. If you look at it constructively, the way a scam works is that it follows a couple of incredibly simple steps that nevertheless take a lot of experience and authority to pull off.
In fact, investment scams are so effective not because of the way they are structured but because the people that are behind them are very talented at human manipulation. They have an arsenal of psychological and behavioral tricks.
Indeed, the hardest part of any scam is to actually be introduced to the scammer in person which happens most of the time by phone but it can also occur by email correspondence.
The quickest and most effective tool they have is online ads. Fake and misleading ads are ubiquitous over the internet. They continually evolve into becoming more and more legitimate-looking while retaining their complete scammer nature. Everybody has seen at least a couple of these ads: they promote a carefree life, luxurious products on the go, beautiful women, and other very expensive and realistically unattainable stuff.
Behind these ads are the investment scammers. Once you end up on the website you will be asked to provide a phone number or an email address for the sole purpose of being contacted by the broker.
The representatives of the scam will ask you to invest. He or she will use an array of tactics to make you invest. This is a solicitation and nothing else. Investing an initial deposits will build trust with the scammer and can potentially lead to more and higher investments.
If the user continues to invest and trusts the broker, he or she will continue to invest money that will be very hard to retrieve.
And once the time comes to actually get your money back or at least withdraw a profit, the true scammer nature of the company will reveal itself. The broker will either block your accounts, close off all communications with you, shut down the entire website, or stall all requests. At times it can even pay you back a percentage of your deposit and profits in order to create a false sense of security.
What to do if scammed?
Now, the quickest way to get your money back is to file for a chargeback with your credit or debit cards provider. However, this applies only to those users that have actually lost money by means of a card. MasterCard and VISA have a chargeback period of 540 days.
Bank transfers are harder to get back. First of all, we always encourage users to immediately change their bank account username and password. And then to contact the bank itself and try to find a solution to the problem together. The banking institution might have a specific section that deals with similar issues.
One sure way to lose all of your deposit is to invest in a regulated broker via any sort of cryptocurrency. Even in today’s world, crypto transactions are untraceable making crypto deposits the most popular investment gateway used by unregulated brokers. All funds invested through a crypto wallet are definitely lost.
And a warning to all readers! Do not trust the self-proclaimed recovery agency or agencies whose promises of returning all your funds are as misleading as the broker scam itself. They will take the initial fee charged for the false services and will disappear with the money.